What Rate Rise? Millennials Forge Ahead With Purchases

Home-buying millennials are forging ahead with purchases, despite increasing interest rates and the market overall tightening, according to Ellie Mae's Millennial Tracker TM for October. Eighty-eight percent of closed loans to millennials were for purchases, which is four percentage points higher than last October. The amount, on average, was $189,686, also an increase from last year.
“Although housing prices and interest rates are still rising at a faster pace in 2018 than they have in previous years, those trends are not yet stopping millennials from purchasing homes and putting down...Read more ...